Chinese Foreign Minister Wang Yi (R) shakes hands with U.S. Secretary of State Rex Tillerson in Bonn, Germany, Feb. 17, 2017. Wang Yi on Friday met with Rex Tillerson on the sidelines of the Foreign Ministers Meeting of the Group of 20 to exchange views on bilateral ties and issues of mutual concern. (Xinhua/Luo Huanhuan)

BONN, Germany, Feb. 17 (Xinhua) -- Chinese Foreign Minister Wang Yi and his U.S. counterpart Rex Tillerson agreed here Friday that the two countries should work together for greater development of bilateral relations during the term of U.S. President Donald Trump.

Wang and Tillerson met on the sidelines of the foreign ministers meeting of the Group of Twenty (G20) to exchange views on bilateral ties and issues of mutual concerns. The meeting is the first of its kind since Tillerson assumed office.

Wang said the recent telephone conversation between Chinese President Xi Jinping and President Trump had been of great significance.

During the conversation, Wang said the U.S. side had made it clear that it would continue to honor the one-China policy and the two leaders agreed that China and the United States could be great partners and should promote greater development of their bilateral relationship from a new starting point.

This key consensus has safeguarded the political basis of Sino-U.S. relations, charted the course of the relationship in the new era, and created the necessary pre-conditions for the two nations to engage in strategic cooperation on bilateral, regional, and global issues, Wang noted.

Wang said that China and the United States, both shouldering the responsibilities of securing world stability and enhancing global prosperity, had more common interests than disputes.

China is ready to work with the U.S. side to implement the consensus reached between President Xi and President Trump, and move bilateral relationship forward in the direction that features no conflict, no confrontation, mutual respect and win-win cooperation, Wang said.

He said the two sides should increase communication, enhance trust, handle differences properly, and deepen cooperation in a bid to ensure greater development of bilateral relations during Trump's presidency, bring tangible interests to the two countries' peoples, and make more contributions to world peace and prosperity.

For his part, Tillerson reiterated the U.S. stance to abide by the one-China policy, which carries specific significance, not only to the bilateral relationship, but also to regional stability and development.

The U.S. secretary of state said the U.S. side looked forward to working with China to conduct high-level exchanges, facilitate understanding, and maintain, improve and consolidate mutual dialogue and cooperation mechanisms in all fields.

Tillerson also expressed the U.S. side's hope for strengthened cooperation with China in areas such as economy, finance and security and pushing for greater development of bilateral ties.

Wang and Tillerson also exchanged views over the nuclear issue on the Korean peninsula.